Empower Advisory Group LLC Sells 60,858 Shares of Portland General Electric (NYSE:POR)

Empower Advisory Group LLC reduced its position in Portland General Electric (NYSE:POR) by 8.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 625,077 shares of the utilities provider’s stock after selling 60,858 shares during the quarter. Empower Advisory Group LLC’s holdings in Portland General Electric were worth $29,941,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP increased its holdings in Portland General Electric by 74.4% in the 3rd quarter. Allworth Financial LP now owns 621 shares of the utilities provider’s stock valued at $30,000 after buying an additional 265 shares during the period. First Pacific Financial boosted its stake in shares of Portland General Electric by 2.9% in the 3rd quarter. First Pacific Financial now owns 12,331 shares of the utilities provider’s stock valued at $591,000 after purchasing an additional 347 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Portland General Electric by 20.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,469 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 413 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Portland General Electric by 94.5% in the 2nd quarter. Blue Trust Inc. now owns 928 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 451 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of Portland General Electric by 767.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 581 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 514 shares in the last quarter.

Analysts Set New Price Targets

A number of research firms have recently weighed in on POR. Barclays reduced their price target on shares of Portland General Electric from $49.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Bank of America began coverage on shares of Portland General Electric in a research note on Thursday, September 12th. They issued an “underperform” rating and a $47.00 price target on the stock. Jefferies Financial Group began coverage on shares of Portland General Electric in a research note on Friday, September 20th. They issued a “hold” rating and a $48.00 price target on the stock. Evercore ISI began coverage on shares of Portland General Electric in a research note on Wednesday, September 25th. They issued an “outperform” rating and a $54.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Portland General Electric from $54.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $48.86.

Portland General Electric Stock Down 1.8 %

NYSE:POR opened at $46.31 on Thursday. The firm’s 50 day simple moving average is $47.62 and its 200 day simple moving average is $45.91. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86. Portland General Electric has a one year low of $39.13 and a one year high of $49.85. The company has a market cap of $4.88 billion, a PE ratio of 13.82, a P/E/G ratio of 1.20 and a beta of 0.59.

Portland General Electric (NYSE:POR) last released its quarterly earnings results on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.01. Portland General Electric had a net margin of 10.30% and a return on equity of 10.28%. The firm had revenue of $929.00 million during the quarter, compared to analyst estimates of $882.66 million. During the same quarter last year, the business earned $0.46 EPS. The company’s revenue was up 15.8% compared to the same quarter last year. On average, research analysts anticipate that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 24th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 24th. This represents a $2.00 annualized dividend and a yield of 4.32%. Portland General Electric’s payout ratio is 59.70%.

Insiders Place Their Bets

In other Portland General Electric news, SVP Maria Angelica Espinosa sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $48.30, for a total transaction of $120,750.00. Following the completion of the transaction, the senior vice president now owns 14,263 shares in the company, valued at approximately $688,902.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.54% of the company’s stock.

About Portland General Electric

Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. It operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2023, the company owned an electric transmission system consisting of 1,254 circuit miles, including 287 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 554 miles of 115 kilovolt line; and served 934 thousand retail customers in 51 cities.